{"id":646,"date":"2015-12-01T07:50:37","date_gmt":"2015-12-01T15:50:37","guid":{"rendered":"http:\/\/www.rbillingslaw.com\/blog\/?p=646"},"modified":"2015-11-21T21:29:00","modified_gmt":"2015-11-22T05:29:00","slug":"whats-it-like-to-be-a-financial-advisor-for-professional-athletes","status":"publish","type":"post","link":"http:\/\/www.rbillingslaw.com\/blog\/whats-it-like-to-be-a-financial-advisor-for-professional-athletes\/","title":{"rendered":"What&#8217;s It Like to Be a Financial Advisor for Professional Athletes?"},"content":{"rendered":"<p><a href=\"http:\/\/www.rbillingslaw.com\/blog\/wp-content\/uploads\/2015\/11\/347267818_a98b50cd29_z.jpg\"><img loading=\"lazy\" class=\"alignnone size-medium wp-image-647\" src=\"http:\/\/www.rbillingslaw.com\/blog\/wp-content\/uploads\/2015\/11\/347267818_a98b50cd29_z-300x225.jpg\" alt=\"347267818_a98b50cd29_z\" width=\"300\" height=\"225\" srcset=\"http:\/\/www.rbillingslaw.com\/blog\/wp-content\/uploads\/2015\/11\/347267818_a98b50cd29_z-300x225.jpg 300w, http:\/\/www.rbillingslaw.com\/blog\/wp-content\/uploads\/2015\/11\/347267818_a98b50cd29_z.jpg 640w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>The chances of any one of us becoming rich and famous are pretty slim. But did you ever wonder what it would be like to work\u00a0for a celebrity, like a professional athlete? Joe McLean, <a href=\"http:\/\/www.intersectcapitalllc.com\/your-team\/joe-mclean\/\">managing partner of Intersect Capital<\/a>, played professional basketball for four years, and now\u00a0advises players and coaches in the\u00a0NBA, NFL, PGA, MLB and NASCAR.<\/p>\n<p>His insights are surprising and fascinating. For one thing, professional athletes are vulnerable in ways most people don&#8217;t imagine.<\/p>\n<blockquote><p>\u201cProfessional athletes are super accessible,\u201d notes McLean, \u201cthey need to be constantly protected because trouble may just be waiting for them in the tunnel right after the game.\u201d And, it should be stated that such dangers cut across sports, economic backgrounds and, yes, race.<\/p>\n<p>McLean offers the example of an NBA player coming off the court after a game. He\u2019s approached, unsolicited, by a man with a diamond pendant, who says he made it just for the athlete and thrusts it into his pocket saying, \u201cJust take it.\u201d The athlete does and, lo and behold, three weeks later gets an invoice for the price of the pendant.<\/p>\n<p>* * *<\/p>\n<p>The key to getting through to many professional athlete clients is \u201clearning to say \u2018no,\u2019\u201d McLean says. Though it sounds ridiculous, many will be hearing that word for the first time and though they may not take it well at first, the advisor\u2019s dissenting voice will stick out. . . .<\/p>\n<p>It\u2019s also important to learn how to say \u201cno\u201d without actually saying \u201cno.\u201d After all, by simply second-guessing every request, the client will eventually tune you out. \u201cSetting purchasing goals is an easy way to control spending,\u201d McLean says. \u201cInstead of telling a client that he shouldn\u2019t buy a third car, tie it into an achievement, like being named rookie of the month.\u201d This method helps attribute some value to the purchase\u2014athletes can fall into the trap of thinking of their money as simply numbers on a page\u2014and can help lessen impulse spending.<\/p><\/blockquote>\n<p>See the entire article at <a href=\"http:\/\/wealthmanagement.com\/high-net-worth\/how-advise-professional-athletes?page=1\" target=\"_blank\">WealthManagement.com<\/a>.<\/p>\n<p>Photo credit: <a href=\"https:\/\/www.flickr.com\/photos\/bnimble\/\" target=\"_blank\">argyleist<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The chances of any one of us becoming rich and famous are pretty slim. But did you ever wonder what it would be like to work\u00a0for a celebrity, like a professional athlete? Joe McLean, managing partner of Intersect Capital, played &hellip; <a href=\"http:\/\/www.rbillingslaw.com\/blog\/whats-it-like-to-be-a-financial-advisor-for-professional-athletes\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[78],"tags":[101,185,198],"_links":{"self":[{"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/posts\/646"}],"collection":[{"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/comments?post=646"}],"version-history":[{"count":2,"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/posts\/646\/revisions"}],"predecessor-version":[{"id":649,"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/posts\/646\/revisions\/649"}],"wp:attachment":[{"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/media?parent=646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/categories?post=646"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.rbillingslaw.com\/blog\/wp-json\/wp\/v2\/tags?post=646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}